Srei Infrastructure shares zoom 20 pc; hit upper circuit

Shares of Srei Infrastructure Finance on Friday zoomed 20 per cent after the company's subsidiary Srei Equipment Finance received expression of interest (EOI) of up to USD 250 million capital infusion.

The stock zoomed 20 per cent to Rs 7.02 -- its highest permissible trading limit -- for the day on BSE.

On NSE, it jumped 19.65 per cent to Rs 7 -- its upper circuit limit.

Srei Equipment Finance on Thursday said it has received EOI of up to USD 250 million capital infusion from two international private equity investors.

The private equity (PE) funds are US-based Arena Investors LP, and Singapore's Makara Capital Partners, the wholly-owned subsidiary of Srei Infrastructure Finance said in a release.

The company's strategic coordination committee (SCC), chaired by its independent director Malay Mukherjee, will coordinate, negotiate and conclude discussions with the PE investors to bring the capital into the business and advise the management, it added.

Arena Investors LP is a multi-strategy investment firm with USD 2.2 billion of committed capital. Makara Capital Partners is a global financial services company under the regulatory purview of the Monetary Authority of Singapore (MAS).

Srei Equipment Finance provides financing for construction and mining equipment.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)